Why so slow? Everything bitcoin related is blowing up at the moment.
Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry.
Ok a tiny bit of bear. Isn't all the good news priced in already? That is why the price is at $210. Bitcoin has been in the world news so many times. If you are new to Bitcoin because of the current news and look back at the price, you are basically buying in at the top now, is that a good idea? I arrived late to the party in the beginning of may and waited, which was a good decision, bought in in july at around $63 on Bitstamp, a bit lucky though.
And this $27 to $855,000 story, I am sure will give a lot of people an arriving late to the party feeling, so they can't be bothered.
You are right. I may add that price is far above long term, already exponential, growth line (around $80), and returns this year are now equally high as 2011 year (1300%). I would think that percentage increases must go down over time as market cap goes up, so indeed: risky.
However, it is possible that adoption, and price, follow an S curve and that we are now in the first curve where adoption, and price, actually go up faster and faster. This means the uprise of 2013 would be considerably stronger percentage wise, not weaker as the similar 2011 rise.
In case of doubt choose for the side of safety. Question is, from which perspective: that bitcoin is money, or fiat is money?
